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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
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